The Enforcement Directorate (ED), Panaji Zonal Office, on August 23 arrested two men in a money‑laundering probe centred on a Goa woman who was allegedly coerced into transferring funds through a so‑called "digital arrest" modus operandi, officials said on Tuesday.
Arrests, production before court
The agency took into custody Fahim Moin Hussain Sayed and Naim Mueen Sayyed under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002, and produced them before the Special Court (PMLA), Goa, the ED said. The arrests follow a probe that originated from an FIR registered by the Cyber Crime Police Station, North Goa.
Alleged fraud, amounts and timeline
The ED's investigation indicates that between May 21 and June 2, 2025, the victim transferred a total of ₹2,60,33,634 into bank accounts described to her as "Secret Supervision Accounts", according to the agency. The complaint was registered on June 9, 2025 as FIR No. 17/2025.
"Secret Supervision Accounts"
Investigators say the accused and their network converted the alleged cyber‑fraud proceeds from banking credits into cash and then into foreign currency, using an organised layering mechanism that enabled rapid movement of funds.
Scale and method of alleged laundering
The ED reported that the stolen funds were moved within hours through a first tier of dormant and newly opened bank accounts, and then fragmented across more than 400 beneficiary accounts. The probe has traced the money trail to a web of entities involved in commodity trading, travel and foreign‑exchange businesses.
According to the agency, the wider network allegedly carried out transactions amounting to over ₹27,850 crore. The ED's public notes also refer to assets seized in the investigation amounting to ₹3.25 crore.
Searches and investigative steps
On July 17, the ED executed searches under Section 17 of the PMLA at 20 premises in Mumbai and Goa as part of the ongoing probe. The agency said companies holding Reserve Bank of India licences as Full‑Fledged Money Changers (FFMCs) were allegedly used to convert bank credits into cash and then into foreign currency.
- Victim: Woman from Goa; alleged loss ₹2,60,33,634 (May 21–June 2, 2025)
- FIR: North Goa Cyber Crime Police Station, FIR No. 17/2025, registered June 9, 2025
- ED action: Searches on July 17 at 20 premises (Mumbai, Goa); arrests on August 23, 2026
- Alleged network: Transactions worth over ₹27,850 crore; reported seizures ₹3.25 crore
Local implications and legal process
The arrests underscore the cross‑jurisdictional nature of modern cyber‑frauds, with alleged operatives and financial conduits spanning multiple states and involving regulated entities such as FFMCs. The two arrested accused have been presented before the Special Court (PMLA), Goa, which will decide on remand and further procedures under the anti‑money‑laundering law.
Under the PMLA, prosecution requires the ED to establish that proceeds of crime have been laundered; the agency may seek custody for interrogation and continue searches, seizure and attachment proceedings where it believes assets are linked to the alleged offence. The case will proceed through the special PMLA court established to handle such matters.
Precautions for residents
Authorities have repeatedly warned users about coercive online tactics termed "digital arrests" — scams in which victims are threatened with legal action or arrest over fabricated allegations and coerced into transferring money. Cyber‑crime cells advise immediately reporting such incidents to the local cyber‑crime police and preserving all communication, transaction records and bank statements for investigatory use.
The ED said investigations are continuing and further arrests or asset actions may follow as the probe unfolds.
